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Duke  University  Libraries 

Regulations  in 
Conf  Pam  12mo  #172 

DT=1DS357M$ 


CIRCULAR   INSTRUCTIONS. 


REGULATIONS  in  rehtion  to  tlie  issue  of  Certificates  for 
Bonds  and  Registered  Stock. 

TREASURY  DEPARTMENT,  C.  S.  A., 
Richmond,  February  25,  1863. 
Congress  having  ordered  that  certificates  may  be  issued 
in  anticipation  of  bonds,  for  funding  treasury  notes,  and 
for  making  payments  for  produce  loan,  the  following  regu- 
lations will  be  observed  at  all  offices  under  the  control  of 
this  department. 

1.  When  treasury  notes  shall  be  paid  in  at  the  treasury, 
or  at  the  office  of  any  assistant  treasurer  or  depositary  for 
the  purpose  of  being  funded,  and  there  are  not  on  hand  a 
sufficient  amount  of  bonds  or  certificates  of  stock  to  bo 
issued  in  exchange,  the  treasurer,  assistant  treasurer  or  de- 
positary to  Avhom  the  notes  are  paid,  shall  issue  to  the  party 
paying,  a  certificate  for  the  amount  paid,  designating  the 
rate  of  interest  to  which  they  are  entitled ;  and  the  said 
certificate  shall  be  taken  up  with  bonds  or  stock  bearing  the 
same  date  and  rate  of  interest,  as  soon  as  they  can  be  ob- 
tained. 

2.  All  treasury  notes  not  bearing  interest,  which  bear 
date  prior  to  1st  December,  1862,  are  entitled  to  be  funded 
in  eight  per  cent,  up  to  the  22d  April  next ;  after  which 
date  they  can  only  be  funded  in  seven  per  cent. 

3.  All  treasury  notes  not  bearing  interest,  which  bear 
date  subsequent  to  the  Ist  December,  1862,  are  entitled  to 
be  funded  in  seven  per  cent. 


All  subscriptions  to  the  produce  loan,  which  have  been 
made  prior  to  20th  February,  1863, -will  be  entitled  to  eight 
per  cent.;  and  all  subscriptions  since  that  date,  will  be  paid 
in  seven  per  cent. 

For  further  information,  copies  of  the    acts   of  Congress 
in  relation  to  this  subject  are  appended. 

C.  G.  MEMMINGER, 
Secretary  of  Treasury. 


AX  ACT 

To  authorize  the  issue  of  Bends  for  funding    Treasury  Notes. 

Section  1.  The  Congress  of  the  Confederate  States  of 
America  do  enact,  That  the  Secretary  of  the  Treasury  be, 
and  he  is  hereby  authorized  to  issue  coupon  bonds  and  cer- 
tificates of  stock,  with  interest  payable  semi-annually,  at 
the  yearly  rate  of  eight  per  cent.,  for  such  amount  as  may 
be  required  in  exchange  for  all  treasury  notes,  which  are 
now  fundable  in  eight  per  cent,  bonds,  and,  also,  to  pay  for 
any  subscription  to  the  produce  loan,  which  may  remain  un- 
paid after  exhausting  the  one  hundred  million  loan. 

Sec.  2.  That  the  said  Secretary  is  also  authorized  to  issue 
coupon  bonds  and  certificates  of  stock,  with  interest  at  the 
yearly  rate  of  seven  per  cent.,  payable  semi-annually,  for 
such  amount  as  maybe  required  in  exchange  for  all  treasury 
notes  which  are  now  fundable  in  seven  per  cent,  bonds. 

Sec.  .'3.  Q'hat  all  bonds  issued  under  this  act  shall  be  made 
redeemable  at  the  pleasure  of  the  government,  after  the  ex- 
piration of  five  years  from  their  respective  dates,  but  the 
faith  of  the  government  shall  be  pledged  to  redeem  the  same 
at  the  expiration  of  thirty  years  from  such  dates. 

Sec.  4.  That  until  the  bonds   authorized  by  this   act  can 
be  prepared,  the  Secretary  may  issue  in  their  stead,  certifi- 
cates showing  the  right  of  the  holders  to  demand   bonds  of 
like  date  and  amount,  as  soon  as   the  same  can  be  prepared. 
Approved,  February  20,  1863. 


AN   ACT 

To  reduce  the  rate  of  Interest  on  the   Funded   Debt  of  the  Con- 
federate  States. 

Section  1.  The  Congress  of  the  Cot  federate  States  cf 
America  do  enact.  That  all  treasury  notes  issued  after  the 
1st  day  of  December  next,  shair  be   made  fundable  only  in 


bonds  bearing  interest  at  the  rate  of  seven  per  centum  per 
annum,  but  in  all  other  respects  similar  to  the  bonds  bear- 
ing eight  per  cent,  interest. 

Sec,  2.  The  Secretary  of  the  Treasury  shall  have  au- 
thority, by  public  notice  duly  advertised,  to  require  the 
holders  of  treasury  notes,  to  come  in  and  fund  the  same  in 
eight  per  cent,  bonds  or  stocks,  within  si.\  months  after  the 
date  of  sush  notice,  ani  all  notes  which  shxU  not  be  pre- 
sented for  funding  within  the  said  time,  shall  thereafter  be 
entitled  to  be  funded  only  in  the  bonds  or  stock  which  shall 
thereafter  be  issued  undor  the  direction  of  the  Sscretary  of 
the  Treasury,  bearing  interest  at  the  rate  of  seven  per  cent. 
per  annun,  payable  semi-annually:  Provided,  That  nothing 
herein  contained  shall  be  construed  to  revoke  the  authority 
heretofors  given,  to  issue  six  per  cent,  re-convertiljle  bonds. 

Approved,  October  1:3,  1S62. 


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